GFI Realty Services Featured in Multi-Housing News January 19, 2015

GFI Realty arranges sale of walk-up for $250,000 Per Unit

Multi-Housing News

 

New York—GFI Realty Services Inc. announced the sale 17-31 Linden Street, a three-story walk up apartment building located in the Ridgewood section of Queens for $1.5 million, or $250,000 per unit. The 1930’s constructed multifamily property consists of six apartments, four of which were delivered vacant.

Alexandra Rossland of GFI Realty Services Inc. represented the seller and Gavin Bolsom, also of GFI, represented the buyer. Both the buyer and seller are local investors.

“The property benefits from the high demand on the area and the seller decided to capitalize on this opportunity,” Rossland says.

“The buyer viewed this property as a great addition to his portfolio  and  recognized the tremendous value in four of the units being delivered vacant,” Bolsom says.  “He intends to maximize this upside potential.”

The property is located in close proximity to mass transportation and major commercial corridors including Broadway and Myrtle Avenue.

 

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